Diamondback Q4 net income $960M, raises base dividend 7%, guides robust 2024 production

Diamondback Energy, Inc.

2023-FY EPS reported $17.34 revenue$8,412,000,000

Q4 net income $960M ($5.34 diluted EPS); adjusted net income $854M ($4.74).
Q4 free cash flow $910M; full-year 2023 free cash flow $2.9B.
Annual base dividend raised 7% to $3.60/share; Q4 base $0.90 & variable $2.18 declared.
2024 guidance: oil production 270-275 MBO/d, cash capex $2.30-2.55B.
Repurchased 872,667 shares in Q4 for $129M; total 2023 repurchases $838M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Diamondback Energy, Inc. reported fourth quarter ended December 31, 2023 results: net income $960 million, EPS $5.34 per diluted share.

Period: fourth quarter ended December 31, 2023
Net income: $960 million
EPS: $5.34 per diluted share
Result: reported results

Exact text from the filing

Diamondback's fourth quarter 2023 net income was $960 million, or $5.34 per diluted share.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Diamondback Energy, Inc. updated its Q1 2024 guidance (initiated).

Period: Q1 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Q1 2024 oil production guidance of 270 - 274 MBO/d (458 - 464 MBOE/d)

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Diamondback Energy, Inc. reported financial results for full year ended December 31, 2023.

Period: full year ended December 31, 2023
Result: reported results

Exact text from the filing

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Diamondback Energy, Inc. updated its full year 2024 guidance (initiated).

Period: full year 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Full year 2024 oil production guidance of 270 - 275 MBO/d (458 - 466 MBOE/d)

View on SEC.gov

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Diamondback Energy, Inc. filing history →

Source: SEC EDGAR

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